Bruce Sherman

Bruce S. Sherman was born to a Jewish family, the son of Sylvia and Michael Sherman, and raised in a middle-class neighborhood in Queens, New York. His mother was a school teacher in New York public schools. He has two brothers, Peter and Joel. He graduated with a B.A. from the University of Rhode Island and received a M.B.A. from Baruch College. In 1985, he co-founded the wealth-management firm Private Capital Management (PCM) whose initial was the Collier family. PCM expanded its customer base to include government agencies, colleges and universities. The firm grew from $4.4 billion in assets under management in 1999 to $31 billion in 2005. In 2001, he sold PCM to Legg Mason for $1.4 billion. Sherman remained at the firm's helm although several bad investments in newspaper companies (Knight Ridder, the New York Times Company, and Gannett Company) combined with a $478.6 million loss in their investment in Bear Sterns (which collapsed in 2008), dwindled the firms assets to $2.4 billion in 2009, the year of Sherman's retirement.

Sherman was nicknamed the "The Paper Shredder" after persuading Knight Ridder's board to sell its 32 newspaper portfolio to the McClatchy Company for $4.5 billion. In August 2017, Sherman led a business group, including Michael Jordan and Derek Jeter, that made a $1.2 billion bid to purchase the Miami Marlins from Jeffrey Loria. Sherman will become the controlling owner of the team.

Sherman and his wife support various charities including the Naples Winter Wine Festival which benefits the Naples Children and Education Fund. In 2016, the couple founded the Sherman Prize which awards prizes to those who have made advances in the fight against inflammatory bowel diseases including ulcerative colitis and Crohn's disease (of which both his daughters are afflicted). The Shermans endowed the Bruce and Cynthia Sherman Professorship of Urology Reserach and Innovation at New York University.

In 1999, he married Cynthia Kahn in a Jewish ceremony in Manhattan. He has two daughters, Lori Shaer and Randi Stanley, from a previous marriage to Marlene Bluestein.